Cryptocurrency Exchanges Fall Short on Quantum Readiness

NFT Demon Holdings has published The State of Exchange Quantum-Readiness 2026 survey, assessing 26 major cryptocurrency exchanges against six criteria related to post-quantum migration readiness.

The survey found that 22 out of 26 exchanges showed no qualifying public evidence across the six criteria. These criteria include a published migration plan, named algorithm targets, a dated timeline, a cryptographic inventory, deployed or piloted post-quantum cryptography, and executive commitment to act.

Among the exchanges assessed, Coinbase and KuCoin tied for the highest observed score at 4/6. Coinbase's score includes evidence of program breadth, including its PQ-CoreKMS key-management build and a full company-wide cryptography inventory. KuCoin's score includes its operation of what the survey identifies as the industry's only live post-quantum cryptography (PQC) test gateway.

NFT Demon Holdings' founder Jeremy Ryan stated that 'the standards have been final for two years, the harvesting of exposed keys has already started, and regulators have begun naming names.' He emphasized that 22 out of 26 exchanges have no public plan, and that the technology to reach a score of 6/6 already exists.

NFT Demon Holdings provides quantum-readiness advisory services for cryptocurrency exchanges, custodians, wallet providers, private capital firms, financial institutions, and funds. Its services range from key inventory and vendor evaluation to full migration planning.